Rules

SS&C’s Win of Trade Secrets Suit Highlights Hiring Risks

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SS&C Technologies’ recent US$44 million jury verdict in a lawsuit against Clearwater Analytics has put Wall Street’s legal and human resource managers on alert to protect their firms from the receipt of trade secrets when hiring key employees from the competition. “HR and legal departments are a company’s first line of defense against litigation from […]

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SS&C’s Win of Trade Secrets Suit Highlights Hiring Risks

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SS&C Technologies’ recent US$44 million jury verdict in a lawsuit against Clearwater Analytics has put Wall Street’s legal and human resource managers on alert to protect their firms from the receipt of trade secrets when hiring key employees from the competition. “HR and legal departments are a company’s first line of defense against litigation from […]

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FINRA: E-Mail Oversight Needs Quantity and Quality

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  Reasonable. How is a US broker-dealer’s compliance manager supposed to interpret that word when it comes to overseeing the firm’s e-mail correspondence. With some difficulty and much deliberation on quantity and quality as shown by the Financial Industry Regulatory Authority’s recent US$32,000 fine and censure of Utah-based broker-dealer Wilson-Davis which specializes in microcap stocks. […]

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FINRA: E-Mail Oversight Needs Quantity and Quality

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  Reasonable. How is a US broker-dealer’s compliance manager supposed to interpret that word when it comes to overseeing the firm’s e-mail correspondence. With some difficulty and much deliberation on quantity and quality as shown by the Financial Industry Regulatory Authority’s recent US$32,000 fine and censure of Utah-based broker-dealer Wilson-Davis which specializes in microcap stocks. […]

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Swaps Margin: The Final Sweep of Document and Ops Morass

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For collateral management operations and IT managers at hundreds of small to mid-sized broker -dealers and fund managment shops the nightmare of handling the new regulatory-imposed initial margin requirements for uncleared derivative contracts has just begun. Phase four of the US and non-US regulations, effective September 2019, and the ultimate phase five version, effective September […]

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Swaps Margin: The Final Sweep of Document and Ops Morass

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For collateral management operations and IT managers at hundreds of small to mid-sized broker -dealers and fund managment shops the nightmare of handling the new regulatory-imposed initial margin requirements for uncleared derivative contracts has just begun. Phase four of the US and non-US regulations, effective September 2019, and the ultimate phase five version, effective September […]

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Swaps Margin: The Final Sweep of Document and Ops Morass

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For collateral management operations and IT manager at hundreds of small to mid-sized broker -dealers and fund managment shops the nightmare of handling regulatory-imposed initial margin requirements for uncleared derivative contracts has just begun. Phase four of the US and non-US regulations, effective September 2019, and the ultimate phase five version, effective September 2020 are […]

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SEC’s New Rule 606: Execution Transparency At a Cost

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For brokerage trade operations, compliance and IT managers, giving fund managers a lot more details about where and how their trades were executed to fulfill the US Securities and Exchange Commission’s enhancements to Rule 606 could turn into a major operational headache. At issue is how much data broker-dealers have readily available, how much they […]

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SEC’s New Rule 606: Execution Transparency At a Cost

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For brokerage trade operations, compliance and IT managers, providing fund managers with more granular details about where and how their trades were executed to fulfill the US Securities and Exchange Commission’s enhancements to Rule 606 could turn into a major operational headache. At issue is how much data broker-dealers have readily available, how much they […]

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Consolidated Audit Trail: Those Messy Data Linkages

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US brokerage operations managers are quickly turning their attention to how they will meet the cumbersome requirements for data linkages now that the Financial Industry Regulatory Authority (FINRA) has been stepped in at the eleventh hour to operate the new consolidated audit trail (CAT). The initial phase-in of CAT — 2a and 2b– starting in […]

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